Ronald W. Kisling Sells 6,038 Shares of Fastly, Inc. (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the sale, the chief financial officer now owns 519,812 shares in the company, valued at $4,912,223.40. The trade was a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Fastly Stock Performance

NYSE:FSLY opened at $9.70 on Thursday. The stock’s 50-day moving average is $9.23 and its 200-day moving average is $7.82. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.36 billion, a P/E ratio of -8.89 and a beta of 1.24.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS. Equities research analysts anticipate that Fastly, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FSLY shares. DA Davidson upped their price target on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Craig Hallum raised their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Citigroup boosted their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.85.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can grew its position in shares of Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares during the last quarter. Quadrature Capital Ltd lifted its stake in shares of Fastly by 84.2% in the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after acquiring an additional 51,224 shares during the period. Penserra Capital Management LLC boosted its holdings in Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after acquiring an additional 801,968 shares during the last quarter. XTX Topco Ltd acquired a new stake in Fastly during the 3rd quarter valued at approximately $400,000. Finally, Zacks Investment Management bought a new position in Fastly during the 3rd quarter worth approximately $914,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.